Automate Vendor Account Validation

With Trustpair, validate vendor legitimacy in 190 countries and boost team efficiency through automation. Take action against vendor fraud, now.

Why Is Account Validation Automation Critical?
of businesses targeted in 2023
80 %
still use manual checks to stop fraud
40 %
of victims lost more than $1M
20 %

Instant Automated Account Validations

Calls, counter-calls, emails, data searches: manual vendor account validations performed by financial teams do not provide sufficient protection against payment fraud. Manual, time-consuming, and highly fallible, a single vendor account validation takes over 30 minutes on average. With Trustpair:

 

International Account Ownership Verifications

What is account validation according to NACHA?

What are the risks of not validating accounts for businesses?

Why is automated account validation the ultimate way to safeguard your business?

Why Use Trustpair for Automated Account Validation?

Automate Safely

Our software automates account validation, reducing time-consuming and manual processes, prone to human errors and fraud. Your teams will gain time and peace of mind.

Gain Efficiency

We offer flexible integration modes and can easily connect to your existing systems, designing an easy-to use solution suited to your specific business

Control Globally

Confidently validate vendor bank accounts globally and validate their legitimacy across 190 countries thanks to the largest banking data sources network.

Your fortress against vendor fraud

Experience Seamless Security in Action. Request Your Demo Today !

FAQ

Frequently asked questions

Browse through our different sections and find the answer to your question.

Comply with regulations

Regulatory authorities are here for a reason. Nacha account validation requirements ensure that you have the correct bank details to charge your clients for example. They also provide resources and documentation for doing account validation the correct way.
The same goes for the KYC (Know Your Customer) and AML (Anti-Money Laundering) frameworks, which apply to certain high-risk industries like insurance.
Regulatory compliance makes sure standards are met across industries.
Abiding by them means protecting your business from a potential security breach, money laundering, or terrorism funding. It also protects your consumers’ sensitive information, which in turn leads to a more trusting relationship between you.

Standardize your processes

Standardizing your account validation is key for consistency across your company. Account validation is a business process like any other – it needs to be streamlined in order to be efficient. The way you go about this exactly depends on your organization.
Have a look at where you’re at now, and think about how you could make your actual process more effective. You might need to involve more people in it, simplify it, officialize one process for the whole company, communicate more regularly, and so on.

One thing is sure, however: you need to systematically check the financial information of your third parties – especially for overseas suppliers! Checking a merchant when you create its’ record in your database is a first step but it’s not enough: you need to ensure controls are done systematically during the supplier lifecycle.
That’s why it’s important that account validation be part of your regular internal controls, and as such is communicated consistently in your company. It all leads to increased cybersecurity, as well as leaves an audit trail in case of external control.

Do your due diligence

Account validation is about more than meeting the standards of regulatory bodies. At its heart, it’s about ensuring that your company isn’t sending funds to scammers, hackers, terrorists, or any malicious person. It’s an essential addition to your current anti-fraud measures.
Strong account validation needs to be an integral part of your customer due diligence process. This means going beyond standard background checks and incorporating robust business process controls. You need to be sure you won’t be defrauded and fund illegal activities unknowingly.
Enhanced due diligence is possible thanks to Trustpair, which carries out systematic and automated checks. Our vendor data management system means you can trust that your account validation covers all the authentication details that you might otherwise miss with manual verification.

On top of being an Account Validation Service (or AVS), Trustpair will help you address risk management topics efficiently and globally.

Our platform has been designed with the end user in mind and offers intuitive ergonomics as well as comprehensive dashboards, workflows, and task centers.

The dashboards will help you balance your decisions when it comes to risky situations, by giving you a complete overview of merchant information and risk level.

Vendor evaluations are delivered almost instantaneously and can be triggered at any moment of the supplier lifecycle – not only when a new vendor is created. They are based on external banking data sources that provide all needed information – routing number, company status, account number, and so on.

On top of that, we send live warnings (by email message or a notification on the platform) as an additional response to any unusual or suspicious transaction – including an unusual amount or date – and block it preventively.

Routing numbers enable you to identify banks before transfers or on a check. Validating the ACH routing number is important before executing an ACH transfer to make sure you’re sending funds to the right beneficiary, avoiding mistakes or even fraud.

There are different methods to validate routing numbers like online tools or direct bank lists.

However, validating routing numbers isn’t enough to wipe out fraud. Even if the routing number is valid, it doesn’t mean the rest of the banking information is correct. Fraudsters could have opened an account in the same bank as the actual beneficiary to commit fraud under the radar. It’s important to check more information like the company’s address, country, etc

TESTIMONIALS

Voices of trust

Explore how our solutions have empowered businesses like yours 
to fortify against fraud and build a resilient financial ecosystem.
malika befares
Malika Benfares
Head of Treasury and Consolidation
sade-telecom-logo

"Trustpair gives us more reliability and peace of mind. The financial director is more serene when it comes to approving the transfer order."

Michele Bruno
Michele Bruno
CFO and Treasurer
decathlon-logo

"With Trustpair’s verification methodology, it's no longer just a consistency check but an exact confirmation of the validity of the third party: there is no longer any risk."

Joffrey Tabouret
Joffrey Tabouret
Head of Treasury and Financing
leaseplan-logo

"With Trustpair, we are able to automatically and quickly monitor our third parties and ensure the security of that very data over the long term."

Fabrice meunier
Fabrice Meunier
Administrative and Financial Manager
keys-logo

“I would definitely recommend Trustpair to finance departments. It makes adding and modifying beneficiaries more reliable, without resorting to manual processes that are cumbersome, time-consuming and fallible.”

Fanny Harquel
Fanny Harquel
Accountability Manager
octopharma-logo

“The control process is simplified with the Trustpair solution, the Finance Department is reassured and, above all, it no longer needs to waste time performing manual checks to verify a supplier's bank details.”

Colin Cesena
Colin Cesena
Middle Office Treasury Manager
axereal-logo

"Trustpair adapts very well to the specifics of our market and our way of working. Several features are developed as we work together. That's a real plus."

Mechain Etienne
Etienne Mechain
Financial Manager
groupe-dehon-logo

"Trustpair has become more than a reflex; it has become an obligation. The team no longer validates an IBAN unless Trustpair has confirmed it to us."

mauro portela
Mauro Portela
GBS - Managing Director Global MDM Operations
danone

Thanks to Trustpair, we’ve made a significant shift in our security processes and filled the gaps we needed to fill. Trustpair has proved to be a committed and trustful partner and we’ve appreciated the support and transparency.

Monika Razny
Monika Razny
Treasury and Corporate Finance Manager
edf renewables

We’ve gone from manual and time-consuming fraud controls to automated bank account validation done directly in SAP. The workload has been drastically reduced and payment security is now guaranteed.

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